News

USDA ag price indices down in November

Farmers paid and made slightly less in November than October.

The USDA’s index of prices received was down 0.1% on declines in corn, cattle, hogs, and turkeys against gains in soybeans, market eggs, lettuce, and strawberries.

The USDA’s dairy index for November was a half a percent higher than October, but 15% lower than November 2022, with an all milk price of $21.70 per hundredweight, a dime more than the previous month, but $3.70 less than last year.

The index of prices paid was 0.4% lower on decreases for feeder cattle, feed grains, diesel, and supplements, which canceled out increases in complete feed, concentrates, nitrogen, and repairs.

Year-to-year, the index of prices received fell 15%, while the index of prices paid was down 0.3%, reflecting the changes in commodities prices, inputs, and the economy.